Macro situation: neutral.
I could see VRX bouncing off its VWAP. The problem was that I was unsure of my sell the news thesis; more careful research and preparation would have helped.
So I went long but wasn't fully committed to this being a countertrend trade. Had I been committed to my thesis, I would have taken profits at the 2:1 risk point and been out.
I also think this trade was just too hard to execute anyway. Why trade countertrend when you take easy setups that follow the trend? It's too hard to do.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-10-19 09:56:18 | VRX | buy | $168.736 | long |
2015-10-19 10:10:31 | VRX | sell | $167.423 | long |
2015-10-19 10:10:31 | VRX | sell | $167.423 | long |
2015-10-19 10:10:31 | VRX | sell | $167.531 | 0 |
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